LITE-ON Technology's Vietnam Subsidiary Invests NT$1.023 Billion in Equipment Acquisition

ASEAN Financial Special Report (300 articles)

Stay ahead of ASEAN's economic trends with CNA's 'Southeast Asia Financial Information Network,' delivering daily curated headlines from Thailand, Vietnam, Indonesia, Malaysia, and the Philippines. From government policies to industry shifts and investment opportunities, stay informed and seize emerging business prospects.

(CNA, Taipei, June 17) Power supply giant LITE-ON Technology announced today that its subsidiary, LITE ON VIETNAM CO., LTD., has acquired a batch of machinery equipment totaling NT$1.023 billion.

LITE-ON stated the transaction is for operational purposes, with QUANTEL GLOBAL VIETNAM CO., LTD. as the counterparty.

LITE-ON's May revenue reached NT$17.353 billion, up 3.94% month-on-month and 29.56% year-on-year, marking the highest level since November 2018—7.5 years. Cumulative revenue for the first five months of the year reached NT$77.456 billion, a 22.52% year-on-year increase.

At the end of April, LITE-ON CEO Chiu Sen-Bin stated during the earnings call that Q1 marked the operational low point for the year. With AI product shipments increasing each quarter, the company expects strong year-on-year and quarter-on-quarter growth in core business revenue and profitability starting in Q2. 1150617

Stand with the truth—your support defends press freedom.

Download CNA's 'First News' app to stay updated.

Text, images, and videos on this website may not be reproduced, broadcast, or transmitted without authorization.